You'd never know it from irrational exuberance following the October 5 BLS report. "Better News on Jobs" headlined a New York Times editorial, saying:

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The report "was stronger than expected." It's also true that more needs to be done "to maintain and create jobs," The Times admitted. It also called the unemployment rate drop from 8.1% to 7.8% "partly due to a statistical fluke and partly to more part-time employment."